3675-3683 Voltaire St - Freestanding FOR SALE


San Diego, CA 92106- Point Loma Heights
$4,500,000 USD
619-651-3412
3675-3683 Voltaire St, San Diego, CA for Sale
$4,500,000 USD
Freestanding - FOR SALE
1/15
null | Request Cap Rate

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3675-3683 Voltaire St
San Diego, CA 92106
Point Loma Heights


HIGHLIGHTS

  • Rare large-format mixed-use offering in Point Loma, only one comparable building has traded in this zip code in the last five years.
  • 13 suites across a flexible office-over-retail configuration with 6 surface parking spaces.
  • 8 occupied suites with 5 immediately available for owner-user or re-tenanting.
  • All leases short-term and below market, clear near-term repositioning upside.
  • Major capital improvements completed, new roof, upgraded HVAC, exterior paint, beams, staircase.
  • Supply-constrained submarket with strong demographics and no new commercial pipeline.

OVERVIEW

The Totah Group of Marcus & Millichap is pleased to present 3675-3687 Voltaire Street, a 11,060 SF mixed-use office- over-retail building with 13 suites in one of San Diego’s most fiercely held submarkets. In the last five years, exactly one building over 10,000 SF has changed hands in this zip code, an opportunity that doesn’t come along often. Point Loma doesn’t build new commercial. What exists here has been held, passed down, and quietly kept off the market for decades. Voltaire Court sits in the residential heart of the neighborhood, directly adjacent to Point Loma High School. The demographics are strong, the vacancy is tight, and the supply pipeline is essentially nonexistent. Designed in 1959 by Robert J. Platt, AIA, one of San Diego’s most celebrated mid-century architects, this building carries an authenticity that modern construction simply cannot replicate. The mid-century bones are intact and the character is undeniable, but the building has been thoughtfully updated where it counts: brand-new roof, two new HVAC units, fresh exterior paint, refinished wooden beams, new staircase, new exterior windows. The heavy lifting is done. A new owner walks in day one without a capital improvement checklist hanging over their head. Thirteen suites across a retail-at-grade, office-above configuration that gives a buyer real flexibility in how they use it, lease it, or both. The building’s mid-century pedigree and architectural provenance may qualify it for historic designation, potentially opening the door to a Mills Act contract and meaningful property tax savings for a future owner. Eight of thirteen suites are occupied. The other five can be yours. Establish your business at a Point Loma address, let the existing tenants quietly offset your cost of ownership, and build equity in a market that has historically and consistently outperformed other submarkets. Every lease in place is short-term and below market on a gross basis. A sophisticated buyer comes in, resets the rents to market, converts to NNN or modified gross, and stabilizes an asset in a submarket with virtually no competing supply. The path to stabilization is well-defined. Point Loma real estate at this scale trades once in a generation. The building is well maintained, the leases are flexible, and Point Loma’s fundamentals do the rest. Contact Agents or visit site to download OM: https://thetotahgroup.com/property/voltaire-court/

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$360 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Voltaire Court

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

C

APN/PARCEL ID

449-600-01

ASK ABOUT THIS PROPERTY

Nick TotahMarcus & MillichapMore Info
619-651-3412

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Nick TotahMarcus & MillichapMore Info
619-651-3412

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.